All Forum Posts by: Min Zhang

Welcome to BP Jason. My advice would be to start small and do your research. Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments. Best of luck on your journey!

Hi Benjamin,
1. The 1% Rule is a great starting point to gauge cash flow. I recommend checking market with great macros.

2. If the market aligns with your goals, it makes sense to take advantage of the connections. I’d suggest chatting with your friend about what’s been working for him, and maybe ask for some recommendations on building a solid local team

3. It's personal choice. Direct flights are a huge convenience, but what matters most is if the market fits your overall goal and strategy.

4. Yes, I always recommend out of state buyers to have PM in place.

5. It's not uncommon to have lower cash especially in markets where properties are appreciating. In some markets, it’s rare to hit the positive cash flow in B class or better, but cash flow can still be decent in the C+ areas.

@David Lewis I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

Here is a summary of the book.
https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greene

If the numbers doesn't make sense for you locally, that's the time you explore other route. I recommend having a property manager for your out-of-state properties. Best of luck!

Welcome to BiggerPockets Douglas! You're in the right place to learn about real estate investing. I am excited for you!

Welcome to BP, John! A duplex is a great starting point. I recommend beginning with a turnkey property. It’s the easiest way to get a feel for being a landlord without the stress of managing rehab projects. Good luck!

@Alon Saar

1. Since you already know that you want to focus on BRRRR, next you should identify your market. Then, start building your connection with local agents, contractors and property managers.
2. You can check tools like Niche, Roofstock, Zillow, or even just Google Maps can help you get a feel for neighborhoods and properties. It’s about understanding what each neighborhood offers. Look at things like safety, schools, local amenities, and the overall vibe. Also talk to local agents and ask for their insights. That’ll help you get a better sense of which neighborhoods align with your investment goals.
3. Check out recent sales in the area to get a sense of pricing and comps. Also, make sure the property's condition matches what you're willing to take on, or that the numbers work for you.
4. When it comes to repairs, I recommend talking to contractors who can walk through the property for you and give you a solid estimate. As for ARV, you'll want to look at recent sales of similar homes after they've been fixed up. An agent can also help with this.

@Emily Shin I did house hacking when I started investing in 2020. Here is an article with more information on what a house hack is -www.rocketmortgage.com/learn/house-hacking. A/B Class is your top choice as this will quality tenants. As for property class, I recommend aiming for properties in A/B class neighborhoods. These tend to attract more reliable tenants, and the properties generally require less maintenance. Good luck!

Hey Urvesh, check the neighborhoods around Cleveland Clinic Fairview Hospital (44111 - Kamm's Corner), Cleveland Clinic Hillcrest Hospital (Mayfield Heights - 44124), and Cleveland Clinic Main Campus (Fairfax - 44195). You can also look into areas near MetroHealth (Brooklyn Centre - 44109). Good luck!

Hi Jerry, BiggerPockets has some great calculators you can use to analyze deals. You can also check out Roofstock and Niche for insights on neighborhood grades and ratings. For rent comps, try Rentometer or Zillow’s "Price My Rental" feature.

Good luck!